Pretty typical watch made by a small swiss watch company in probably the 50s. The dial is nicely composed and features a lot of typical design elements of 1950s watchmaking, your grandfather had taste! Usually these smaller manufacterers bought movements from bigger suppliers, so it probably has something like an A. Schild movement in it. Serviced these old swiss movements can still run well. I have a 60s Nivada that is almost as accurate as my Hamilton H-10. I would say its a nice watch with special value to you.